RedBird Capital Denies AC Milan Stake Sale Rumors

RedBird Capital firmly denied an Italian newspaper's claim that it intends to sell a stake in AC Milan. The firm, which acquired the club in 2022, strongly refuted allegations of circulating documents seeking potential investors, describing the report as entirely unfounded and fabricated.

U.S. investment firm RedBird Capital has vehemently denied a recent report by Italian newspaper La Repubblica, which suggested the firm plans to sell a stake in AC Milan.

According to the newspaper, RedBird was supposedly looking to rebalance its portfolio by parting with up to 150 million euros of its initial investment. The claim, tied to a vendor loan and a document prepared for new investors, was described as a complete fabrication by RedBird spokespersons.

Furthermore, RedBird underscored that the circulating document is not linked to its founder Gerry Cardinale, denying any connection with investment firm Washington Harbour, which was said to have prepared the document.

(With inputs from agencies.)